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TSX ends up 0.3%, at 20,937.55
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For the week, the index was down 0.1%
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Energy rallies 0.6%; oil settles 2.2% higher
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Heavily weighted financials add 0.5%
(Updates at market close)
By Fergal Smith
Jan 5 (Reuters) – Canada’s main index rose on Friday, ending the first week of 2024 on a positive note, as investors shifted into sectors, such as energy and financials, offering cheaper valuations and took in stride disappointing domestic jobs data.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 66.2 points, or 0.3%, at 20,937.55. For the week, it was down 0.1%, as some of the optimism that had fueled markets in the final two months of 2023 ebbed.
The trend at the start of the year has been for investors to reduce their exposure to some high-flying sectors, such as technology, and move to sectors that appear to offer more value, said Elvis Picardo, a portfolio manager at Luft Financial, iA Private Wealth.
“You are seeing financials…
